Optical communication firm cancels settlement accounts

Suzhou TFC Optical Communication (SZSE:300394) announced the cancellation of special settlement accounts previously used for wealth management products related to raised funds. The company raised a total of CNY 785,999,962.98 through a specific offering of 18,424,753 shares at CNY 42.66 per share, with net proceeds of CNY 777,046,732.42 after deducting issuance costs. These accounts, held at Agricultural Bank of China, China Construction Bank, and Bank of China branches in Suzhou, are no longer needed as the associated wealth management products have matured and there are no plans for further use. The company has completed the cancellation process recently.